Raymond James (NYSE:RJF) Receives $140.91 Average Price Target from Analysts

Shares of Raymond James (NYSE:RJF) have received an average rating of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $140.91.

Several brokerages recently commented on RJF. Morgan Stanley raised their price objective on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company lifted their price target on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. JMP Securities upped their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday, October 24th. TD Cowen raised their price objective on Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their target price on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th.

Institutional Trading of Raymond James

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its stake in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the period. Quarry LP acquired a new position in Raymond James in the second quarter valued at $29,000. Covestor Ltd lifted its position in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after buying an additional 104 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Raymond James in the 3rd quarter worth about $32,000. Finally, Gladius Capital Management LP purchased a new stake in Raymond James in the 3rd quarter valued at about $34,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Price Performance

Shares of NYSE:RJF opened at $165.18 on Wednesday. Raymond James has a 52 week low of $102.42 and a 52 week high of $165.42. The company has a 50-day moving average price of $139.90 and a 200 day moving average price of $125.89. The company has a market cap of $34.02 billion, a P/E ratio of 17.01, a PEG ratio of 0.96 and a beta of 0.99. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period last year, the firm earned $2.13 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. Research analysts predict that Raymond James will post 10.83 earnings per share for the current year.

About Raymond James

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.